RBS to shut down 259 branches in UK

Royal Bank of Scotland (RBS) has unveiled plans to shut down a quarter of its branches, which could result in loss of 680 jobs.

Based on its review, the taxpayer-owned bank has decided to shut down 62 RBS branches and 197 NatWest branches.

According to an RBS spokesperson, the number of customers using the bank’s branches across the UK has decreased by 40% and mobile transactions have increased by 73% over the same period.

Around five million customers of the bank are using mobile banking app and one in five persons bank digitally, the spokesperson added.

As a result, the bank has taken the decision to expand its services through different ways, including community bankers, mobile bank on wheels and post offices.

The RBS spokesperson further said: “We know that not all of our customers are comfortable or familiar with using online or mobile banking, so we have created a new specialist taskforce of TechXperts who will be dedicated to supporting our customers with training and support with digital skills.

“There will be 103 Community Bankers in post across the UK by the end of March 2018, serving around 250 communities.”

In March, RBS announced that it would close 158 branches in the UK, as more customers switch to digital banking.

RBS offers financial products and services to personal and business customers across the UK.

With around 18.9 million customers, the bank helps customers to access international markets in Europe, Asia, the Middle East and North America.

Image: RBS to close quarter of its branches. Photo: courtesy of Royal Bank of Scotland.